Time value of moneyThe time value of money is the widely accepted conjecture that there is greater benefit to receiving a sum of money now rather than an identical sum later. It may be seen as an implication of the later-developed concept of time preference. The time value of money is among the factors considered when weighing the opportunity costs of spending rather than saving or investing money. As such, it is among the reasons why interest is paid or earned: interest, whether it is on a bank deposit or debt, compensates the depositor or lender for the loss of their use of their money.
Present valueIn economics and finance, present value (PV), also known as present discounted value, is the value of an expected income stream determined as of the date of valuation. The present value is usually less than the future value because money has interest-earning potential, a characteristic referred to as the time value of money, except during times of zero- or negative interest rates, when the present value will be equal or more than the future value. Time value can be described with the simplified phrase, "A dollar today is worth more than a dollar tomorrow".
Transcendental numberIn mathematics, a transcendental number is a real or complex number that is not algebraic – that is, not the root of a non-zero polynomial of finite degree with rational coefficients. The best known transcendental numbers are π and e. Though only a few classes of transcendental numbers are known – partly because it can be extremely difficult to show that a given number is transcendental – transcendental numbers are not rare: indeed, almost all real and complex numbers are transcendental, since the algebraic numbers form a countable set, while the set of real numbers and the set of complex numbers are both uncountable sets, and therefore larger than any countable set.
Join and meetIn mathematics, specifically order theory, the join of a subset of a partially ordered set is the supremum (least upper bound) of denoted and similarly, the meet of is the infimum (greatest lower bound), denoted In general, the join and meet of a subset of a partially ordered set need not exist. Join and meet are dual to one another with respect to order inversion. A partially ordered set in which all pairs have a join is a join-semilattice. Dually, a partially ordered set in which all pairs have a meet is a meet-semilattice.
Closure (topology)In topology, the closure of a subset S of points in a topological space consists of all points in S together with all limit points of S. The closure of S may equivalently be defined as the union of S and its boundary, and also as the intersection of all closed sets containing S. Intuitively, the closure can be thought of as all the points that are either in S or "very near" S. A point which is in the closure of S is a point of closure of S. The notion of closure is in many ways dual to the notion of interior.
Riesz spaceIn mathematics, a Riesz space, lattice-ordered vector space or vector lattice is a partially ordered vector space where the order structure is a lattice. Riesz spaces are named after Frigyes Riesz who first defined them in his 1928 paper Sur la décomposition des opérations fonctionelles linéaires. Riesz spaces have wide-ranging applications. They are important in measure theory, in that important results are special cases of results for Riesz spaces. For example, the Radon–Nikodym theorem follows as a special case of the Freudenthal spectral theorem.
Projectively extended real lineIn real analysis, the projectively extended real line (also called the one-point compactification of the real line), is the extension of the set of the real numbers, , by a point denoted ∞. It is thus the set with the standard arithmetic operations extended where possible, and is sometimes denoted by or The added point is called the point at infinity, because it is considered as a neighbour of both ends of the real line. More precisely, the point at infinity is the limit of every sequence of real numbers whose absolute values are increasing and unbounded.
Polysynthetic languageIn linguistic typology, polysynthetic languages, formerly holophrastic languages, are highly synthetic languages, i.e., languages in which words are composed of many morphemes (word parts that have independent meaning but may or may not be able to stand alone). They are very highly inflected languages. Polysynthetic languages typically have long "sentence-words" such as the Yupik word tuntussuqatarniksaitengqiggtuq. Except for the morpheme tuntu "reindeer", none of the other morphemes can appear in isolation.
